Android and Meis reporting on an interesting rumor about a supposed prototype for Google Inc.'s (GOOG) next generation Nexus phone (the fifth generation model). Supposedly, LG Electronics, Inc. (KSC:066570) is competing for the contract with a model called "Megalodon", which appears to have a truly monstrous spec.

The Google-branded smartphones have been a tradition for Google since the 2010 Nexus One by HTC Corp. (TPE:2498). The Nexus One was succeeded by the Nexus S (Dec. 2010), Galaxy Nexus (Nov. 2011) from Samsung Electronics Comp., Ltd. (KSC:005930), Nexus 4 (Nov. 2012) by LG Electronics

LG will have to work hard to win another contract from Google. While its Nexus 4 was well received and a hot seller, it was set back by troubling supply shortages during the 2012 holiday season. A Google rep. described the supplies as "scarce and erratic" -- not exactly a glowing recommendation.

But the spec sheet on the Megalodon (if accurate) is hard not to love:

A supposed picture of the "Megalodon" prototype. [Image Source: Android and Me]

The gesture control makes sense; it would put the device in line with Samsung's just-released Galaxy S IV. The 1080p screen resolution is also pretty predictable; both the HTC One and the GSIV pack 1080p. The surprises are the inclusion of OLED -- a technology LG is indeed pursuing hard -- the large battery, and the super-powerful Snapdragon 800.

The Snapdragon 800 won't be sampling till early next quarter, making the rumor a bit hard to believe. If LG can pull off the device by the expected October launch date for the Nexus 5, it will have to snatch up much of the early production of Qualcomm's most prized upcoming high-end chip.

An image (above) also leaked, but it's hard to see whether the case will be metal or plastic (it looks like the rim is either metal or metallic toned plastic, at least).